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Highlands Pacific directors say a direct cash takeover of the company by Cobalt 27 offers the most to shareholders after the failure of a proposed streaming deal over its minority share of production from the Ramu nickel and cobalt project in PNG.

PNG-based Highlands Pacific has opened itself to a full cash takeover by Canadian major shareholder Cobalt 27 after the collapse of a streaming deal between the companies that was to have funded repayment of project loans on the Ramu nickel and cobalt mine near Madang.The offer values Highlands at $A115M. Chairman Ron Douglas says its independent directors consider the 10.5cps offer, a 44% premium to its closing price, an attractive outcome for shareholders in a challenging environment.

West Australian miner Westgold has found a new buyer for lithium royalties on Mineral Resources-Jiangxi Ganfeng’s Mt Marion project.Three weeks after announcing a conditional $A15M sale of its non-core royalty rights at Mt Marion and the Buldania project to SilverStream SEZC, Westgold says it’s had a higher offer for the Mt Marion asset from Cobalt 27 Capital Corp.The Canadian battery metals investment vehicle is offering $A0.25M plus 200mt of physical cobalt metal.

Big Brazilian miner Vale has banked $US690M to fund about 40% of the $1.7B capex 11-year underground extension of its Voisey's Bay nickel-copper-cobalt project in Labrador, Canada, from cobalt streaming agreements with Wheaton Precious Metals and Cobalt 27 Capital.The deal, also expected to increase Voisey’s annual production by up to 30%, includes upfront payments of $390M from Wheaton and $300M from Cobalt 27 for an aggregate 75% of the project's cobalt stream from Jan 1, 2021.

Global miner Vale gives the go-ahead for the delayed $US1.7B underground expansion of the Voisey's Bay nickel mine after signing streaming deals for cobalt production that will deliver upfront payments of $690M.

Canadian-based international streaming company Cobalt 27 will advance $US113M to Highlands Pacific in return for a cobalt-nickel stream from its share of production from the Ramu mine in PNG.Highlands will use the advance to lift its interest in the mine to 13.4%, for an immediate boost in its financial position, while both companies combine to target more opportunities amid soaring markets for battery metals.

Canadian specialist Cobalt 27 has acquired royalty rights over two Australian projects to build its portfolio of inventory and revenue streams predicted to flow from the EV and battery industry's need for cobalt.Cobalt 27 will pay $US4.5M cash and shares to Jervois Mining for gross revenue royalties of 1.7% at Scandium International's Nyngan project and 1.5% at Australian Mines' Flemington project in NSW.